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The Economist is a world weekly journal written if you happen to proportion an unusual curiosity in being good and largely knowledgeable. every one factor explores the shut hyperlinks among family and overseas concerns, enterprise, politics, finance, present affairs, technology, expertise and the humanities.

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1987), Ά Catchall parachute: Herman Miller has a silver shark repellant', Industry Week, 3 February, pp. 16-17. Pritchett, P. (1985), After the Merger: Managing the Shock Waves, New York: Dow Jones Irwin. Schweiger, D. , Ivancevich, J. M. and Power, F. R. (1987), 'Executive actions for managing human resources before and after acquisition', Academy of Management Executive, 1987, Vol. 2, pp. 127-138. Searby, F. (1969), 'Control of post merger change', Harvard Business Review, September-October.

Previous psychological research in the area of 'loss' more generally has repeatedly demonstrated that it produces a conservative and nostalgic impulse in people to hold on to what they have and value. Freud considers that 'collective grief powerfully maintains a sense of community, and so increases cohesiveness, which arguably makes new cultures and mangerial practices even more difficult to introduce. A recent study of the Getty-Texaco combination reports strong evidence of increased cohesiveness post merger, facilitated by what was described as 'collective remembering'.

And it had to be done. Not surprisingly, such actions are frequently seen as insensitive and indiscriminate, and have reverberations throughout the organization, as the currency of organizational loyalty and commitment becomes automatically devalued. Consequently the most common merger concern is fear of redundancy. Apart from early retirements, redundancies and circumstances amounting to constructive dismissal, mergers and acqui­ sitions are associated with high levels of voluntary resignations - what has been referred to as 'the post acquisition drift factor' or 'the haemorrhage effect'.

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